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4
votes
3answers
1k views

Work on the side for my wife's company

I have a job in the UK where I am in the 40% tax band. I have the opportunity do some freelance work (web site building) in my spare time. My wife does not work. Could I set my wife up as a sole ...
5
votes
1answer
202 views

Declaring income from rent

Currently I am renting out my flat to my Sister in law. My mortgage is ~£580 a month and here rent is £600. I am not doing this to make money just to cover the mortgage cost. Do I need to declare the ~...
10
votes
5answers
1k views

Should I cash out my Roth IRA to pay my mother's property tax debt, to avoid foreclosure on her home?

I'm thinking about liquidating my Roth IRA and taking a loan out against my 401k to pay the property taxes my cancer stricken mom owes on her home. She's several years behind, and the county is ...
3
votes
1answer
513 views

How to handle Client Deposits in Xero (or any finance software, really)

This is likely a novice question and (hopefully) easy to answer. I'm a web & software designer/developer and using Xero to manage finances. With new contracts I require a deposit of 30% of the ...
13
votes
7answers
617 views

How does one factor how much saving time is worth?

I recently was reading this comic from xkcd, and it got me thinking. How does one determine how much one's spare time is worth? It seems to me that in particular, a person on salary has a fixed income,...
18
votes
3answers
27k views

How does a dealer (or market maker) earn the bid-ask spread on a stock?

If I am correct, dealers purchase assets for their own accounts, and later sell them for a profit from their inventory. But the spreads is the difference between buy (or "bid") prices and sell (or "...
5
votes
2answers
137 views

If there's no credit report at one of the three agencies does this affect decisions by creditors to offer me credit?

This is a very naive question, but I don't know much about this. I asked a similar question before, but the emphasis was different. I managed to get a credit report through Experian and Equifax (and ...
7
votes
4answers
198 views

Does the market-value of a bond matter after purchase if waiting until “maturity”?

If I'm buying bonds at a certain value, and later on the market value drops (the company or country is in trouble, for example), but I still believe they would be able to pay – do I have ...
5
votes
1answer
258 views

Any advantage to non-deductible Traditional IRA contibutions?

The typical comparison between Traditional and Roth IRAs goes roughly as follows: A traditional IRA allows you to invest pre-tax money into the account and it grows tax free. Once you withdraw the ...
2
votes
1answer
194 views

Employer no longer withholds, how do I self administer 401k

My employer stopped withholding during some restructuring of the business entity, I already maxed out my 5k IRA contribution, I realize I can tax defer another 15k or so in a 401k... how do I simply ...
3
votes
2answers
2k views

Transunion is “unable to locate credit report.” Should I be concerned?

I've been reviewing my different credit reports (from Experian, Equifax and Transunion). Equifax spelled my name wrong, and it's not extremely clear that I managed to fix that. But that's not the ...
5
votes
3answers
277 views

Are there any catches with interest from banks? Is this interest “too good to be true”?

Here's the long put short: I'll have £100,000 in my possession soon (inherited). I'm 17 so I have a NatWest Adapt account (teenager bank account) with an interest of 1.09%. Now, if I was to put the £...
3
votes
1answer
465 views

Deposit insurance in India: Is the limit per deposit, or per individual?

Is the deposit insurance of 1 lakh, per deposit or per individual (PAN)? If it is per deposit, would it be better to have for example 4 FDs of 1 lakh each instead of one FD of 4 lakh? (Of course it ...
6
votes
2answers
1k views

What is the difference between credit score and debt rating?

Why is it that the credit worthiness of individuals is tracked via 'credit rating (score)' while that of nations (soverign debt) is tracked via 'debt rating'?
2
votes
1answer
92 views

Is it possible to get a short term housing loan in India?

Suppose I want to pay for a house with my own funds expect that they are stuck in deposits that I can't redeem immediately. Is there any way I can get say a 40 lakh loan for a tenure of 1 year?
2
votes
1answer
2k views

What's the difference between “marketable” vs. “tradable” (tradeable)?

In Bodie's textbook "Investments": Money market instruments include short-term, marketable, liquid, low-risk debt securities. I was wondering about the differences and relations between "...
6
votes
4answers
6k views

When bookkeeping, which transaction date should I use from my bank statement?

When reconciling my bookkeeping with my bank statement, should I use the date the transaction occurred or the date the bank processed the transaction? Also, which date should I use when transferring ...
17
votes
6answers
14k views

Why do some companies offer 401k retirement plans?

Why do companies offer 401k (or other) retirement plans? Let me elaborate this... I understand that it could be part of an employee's benefits and that a retirement plan option might increase the ...
5
votes
3answers
617 views

What is the best way to get a “rough” home appraisal prior to starting the refinance process?

Given the tightening of regulations on appraisals in the home financing process, I would like to get an idea of the "rough" value of my home before initiating the refinance process. Since our ...
4
votes
3answers
565 views

What proactive measures can be taken before or when a lender closes your credit card?

A blogger and contributor here recommended Digital Federal Credit Union (DCU) as a possible lender in my search for cash secured credit cards to establish my credit history, and I got approved for one ...
3
votes
1answer
432 views

Do currencies that are invested on belong to real assets or financial assets?

When considering investments in currency, I wonder if currency belongs to real assets or financial assets, and why? Thanks! Note: I learned that assets are divided into real assets and financial ...
5
votes
2answers
162 views

Long Term Savings for daughter - UK

I have about £5000.00 that I want to lock away for my daughter when she is older. The problem is that with interest rates so low this money will evaporate in an average savings account or worse in ...
3
votes
3answers
51k views

How can I trade in U.S stock exchange living in India by choosing the broker in U.S? [closed]

I would appreciate if you kindly suggest an answer for this question.Anything incomplete in this question should be assumed. And also please suggest which is the best brokerage firm/broker for this ...
7
votes
3answers
1k views

What factors affect the yield and “trade value” on an exchange of a junk bond ETF?

In an effort to further my grasp of financial derivatives available for speculation and losing money, I realize I need further understanding of how "high-yield corporate", aka junk bond ETF's, "work" ...
21
votes
11answers
5k views

Is it bad etiquette to use a credit or debit card to pay for single figure amounts at the POS

This question might be subjective, but I would like to listen to opinions, if possible. Ever since I got mugged on campus, I only carry enough cash to pay for bus travel. All other payments are made ...
17
votes
3answers
5k views

improve gnucash OFX transaction matching

I wrote a script that cleans up OFX transaction files downloaded from banks so that the name and memo fields are more readable once imported into gnucash. This works great, I now get very clean ...
5
votes
1answer
5k views

What is a financial security?

There are two sources that I have found about securities and am not sure how they are consistent with each other. The first one is from Wikipedia article about financial instruments: Financial ...
1
vote
2answers
146 views

Definition of equity

From Wikipedia: financial instruments can be categorized by "asset class" depending on whether they are equity based (reflecting ownership of the issuing entity) or debt based (reflecting a ...
6
votes
4answers
425 views

I keep getting denied for high utilization

The last 2-3 years, I have been using a student credit card, and have not had a job. I am a student, and I do freelance work. Before college, my mother gave me a credit card underneath her account to ...
2
votes
1answer
356 views

Tax liability for a non-resident alien (student) working on-campus in the U.S

I get paid as a research assistant by helping my guide write papers and for assisting them in classes and correcting homework. Never got around to thinking about tax but recently, when I noticed that ...
5
votes
1answer
193 views

How do secured loans get paid off when selling the asset?

I own a home in California (as tenants in common) with two siblings. My brother took out a loan using the house as collateral. When we sell the house, does the loan get repaid first, or do I get my 1/...
8
votes
1answer
1k views

How do credit card companies track your purchase categories?

I've seen a few responses scattered on the internet that attempt to answer this but they seem to disagree on the matter. When dealing with cash-back credit cards, they offer different percentages for ...
4
votes
3answers
1k views

How do you go about buying currency futures for foreign currencies?

I was interested in buying currency futures for some foreign currencies. How do you go about getting these? I am looking for 6 to 12 month futures.
3
votes
2answers
227 views

Free, web-based finance tracking with tag/label support?

My current solution for tracking finances is a google docs spreadsheet, with a new sheet every month. Overall, I'm quite happy with it. I keep track of where money was spent, on what, and I try to tag ...
3
votes
3answers
9k views

Is it a bad idea to have 3 secured credit card accounts open?

I initially signed up for a Wells Fargo cash secured credit card, last month, but lately with their changing the ToS and extra fee, I am worried about my choice. People have asked me not to close ...
1
vote
1answer
34 views

What resources exist for helping my choose an estate planning attorney?

I'm looking to get some legal documents drawn up such as a will, power of attorney, living will, etc. I am going to start by picking up a copy of The Right Way to Hire Financial Help by Charles A. ...
3
votes
2answers
1k views

how does one see the CBOE VIX index on Google Finance?

How does one see the CBOE VIX index on Google Finance? What is a symbol I can use?
4
votes
4answers
7k views

Why do credit cards require a minimum annual household income?

When applying for a new credit card recently, I saw that different cards require different amounts of minimum annual household income. In the link above, for example, a TD Drivers Reward visa ...
7
votes
4answers
718 views

What can I do to help my financial situation?

Past January I asked for advice about my financial situation and the answers were very helpful to me. As a result, I feel like my situation has improved somewhat. So I wanted to get some advice on ...
20
votes
5answers
10k views

Why do banks encourage me to use online bill payment?

In the US, most consumer banks offer online bill paying. It's convenient for me, but what's in it for the bank? Many vendors take payment electronically, but some require a paper check sent via the ...
5
votes
4answers
41k views

Credit Card Expiration: Am I supposed to request a new one or does the bank send one automatically?

I've had one credit card expire recently and another set to expire soon. For the one that did expire, I didn't get another card until I wrote to them online and they mailed me a replacement. The next ...
4
votes
4answers
205 views

Inflation - Will prices of goods continue to monotonically increase in the long run? [closed]

The question primarily is based on the presumption that Governments would ideally want to maintain a small inflationary environment. In that case, are we really talking about a future where groceries ...
5
votes
3answers
283 views

Which payment plan is better to pay for tuition?

My kids go to a private school that's attached to a religious congregation. As far as paying tuition, they offered me a choice between these 2 deals: $1296 per month (for 12 months). $1156 per month ...
1
vote
4answers
925 views

Is the gold and silver in the GLD and SLV ETFs leveraged?

There are various blogs and videos that indicate that the gold that GLD holds (via HSBC) and the silver that SLV holds (via JP Morgan) is leveraged 50 to 1 or 100 to 1. For me there are some ...
5
votes
2answers
4k views

Ramifications of closing my Wells Fargo cash secured credit card only 3 months after opening

How do I continue using my Wells Fargo cash secured credit card once they change their ToS and start charging a $15+ monthly account service fee in addition to the $18 secured credit card fee from ...
4
votes
6answers
18k views

How long should I expect to keep a car if it is used or new?

I plan on buying a car. I am not sure if it is going to be used or new. I am little scared of used because I always have the feeling that although they are cheaper, thing will eventually go wrong ...
3
votes
1answer
730 views

Can I borrow against my IRA to pay off debt or pay for a car?

I am going to need a new car soon and I was curious if I can borrow against my IRA to pay for the majority of the car so I don't have to finance much. Also, can I borrow against my IRA to pay off ...
6
votes
3answers
606 views

Buying first house with help from parents

First of all, it might help you to know I reside in the UK. It might make a difference. We (my gf and myself) are buying our first house and my parents are willing to help us out. What has been ...
2
votes
1answer
2k views

Open bank account in CHF

I'm living and working now in the Netherlands. Here you can easily open a bank account in EUR but I am interested in an account in Swiss franks. Browsing web pages of several Dutch banks I haven't ...
3
votes
1answer
104 views

What's the role of commodities in a IRA portfolio?

People keep talking about percentage of stocks vs bonds to manage risk when building a personal investment portfolio. What's the role that commodities have in managing risk when building an IRA ...

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